Curat Global LLC Sells 110 Shares of Matson, Inc. $MATX

Curat Global LLC reduced its position in shares of Matson, Inc. (NYSE:MATX) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 704 shares of the shipping company’s stock after selling 110 shares during the quarter. Curat Global LLC’s holdings in Matson were worth $78,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MATX. Boston Partners grew its stake in shares of Matson by 424.8% during the 1st quarter. Boston Partners now owns 958,170 shares of the shipping company’s stock valued at $121,428,000 after acquiring an additional 775,600 shares during the period. William Blair Investment Management LLC bought a new position in shares of Matson during the 2nd quarter valued at approximately $21,037,000. Nuveen LLC bought a new position in shares of Matson during the 1st quarter valued at approximately $23,325,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Matson during the 2nd quarter valued at approximately $14,183,000. Finally, Park West Asset Management LLC bought a new position in shares of Matson during the 1st quarter valued at approximately $11,535,000. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Down 0.7%

NYSE MATX opened at $93.20 on Monday. The stock’s 50 day moving average is $100.77 and its 200 day moving average is $106.06. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $169.12. The stock has a market cap of $2.96 billion, a PE ratio of 6.30 and a beta of 1.21.

Matson (NYSE:MATX) last issued its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.74. The business had revenue of $830.50 million for the quarter, compared to analysts’ expectations of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.31 EPS. Research analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, November 6th. Matson’s dividend payout ratio is currently 9.74%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 price objective on shares of Matson in a research note on Friday, August 1st. Zacks Research upgraded Matson from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Matson in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $131.67.

Insider Activity at Matson

In other news, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the transaction, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. This represents a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.05% of the company’s stock.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.